Property briefs

The momentum in housing auctions has continued right to the end of the season with a 59 per cent cleared rate on 870 auctions in Melbourne and 57 per cent on nearly 550 auctions in Sydney on Saturday, according to Fairfax subsidiary APM. One of the highest priced sales in Melbourne was for a four-bedroom home in Chrystobel Crescent in Hawthorn, which sold through Kay & Burton for $3.11 million. In Sydney a six-bedroom home on a block with deep-water frontage in Algernon Street, Oatley, sold through Ray White Oatley for $2.8 million. Robert Harley

The 37,500 hectare cattle station Mount Cardwell in north Queensland was passed in on a bid of $925,000 at an Elders auction on Friday. The station was bought in 2007 for $3.5 million.Matthew Cranston

Rainham, a historical 31-hectare estate just south of Bathurst in the NSW central west, has sold at auction through Raine & Horne Bathurst for $500,000. The property features an 1830 Georgian home, built by an ancestor of the Raine family and in need of restoration. Ainslie Chandler

Commonwealth Property
Office Fund will continue its on-market buyback. The buyback was announced on December 15, 2011. The fund’s responsible entity, Commonwealth Managed Investments, said the buyback maintained access to “another prudent capital management tool" and would be funding with existing debt and the sale of non-core assets.Ainslie Chandler

Australand
will pay an 11¢ per security distribution for the six months to December 31, taking the company’s full-year distribution to 21.5¢ per security. Australand maintained the same distribution level as in 2011. Ainslie Chandler

Challenger Diversified Property
Group will pay an 8.6¢ per unit distribution for the six months to December 31. It paid a 2.15¢ distribution for the first half of the calendar year then had a one for four unit consolidation.Ainslie Chandler